Indian pharma stocks rise as Nomura flags strong March sales

Cipla

23/04/2026 06:29

** Indian pharma stocks .NIPHARM gain 2.4%, bucking a 0.6% fall in the Nifty 50 .NSEI

** India's domestic pharma market grew 10.1% Y/Y in March, picking up after months of single-digit growth, driven by pricing gains and new product launches, Nomura says

** Cipla CIPL.NS posts 14.7% y/y growth, the fastest among large peers on value and volumes, outperforming the broader market, Nomura notes; shares rise 3.4%

** Market leader Sun Pharma records 12.6% y/y growth, aided by strong traction in chronic therapies; stock up 1.2%

** Torrent Pharma TORP.NS gains share after launching generic semaglutide, including the only oral branded generic, giving it a lead in the segment, Nomura says; shares rise 1.6%

** Dr Reddy's REDY.NS and Zydus Life ZYDU.NS control about 39% and 34% of the generic semaglutide market, respectively; stocks gain 6.4% and 2.1%.

** Nomura adds anti-diabetic and cardiac therapies led March growth, while gastro and anti-infectives lagged due to weak volumes

** YTD, pharma stocks up ~1% vs Nifty's 7.3% drop

 (Reporting by Kashish Tandon in Bengaluru)

 ((Kashish.tandon@thomsonreuters.com))